Cybersecurity is something not to take granted. According to a Clark School study at the University of Maryland, hackers attack in every 39 seconds on average. And those that commonly fall victim to these attacks are small to medium businesses.
Looking into statistics from the Office of the Australian Information Commissioner (OAIC), Australian businesses are prone to cyberattacks. This is bad news as small businesses are the backbone of the country’s economy. Around 2.2 million small businesses exist in Australia, and 1 in 40 small businesses are at risk from cybercrime.
The data is so high because Australian small businesses are lagging in tech innovation due to the lack of funding. Small businesses can only amount a budget on other factors, which can range from inventory to the employees and the physical office. Another example, which can also back up the first example, is the mindset of “why would hackers attack me if I don’t have that much.”
These businesses are indeed small compared to the big leagues, but that makes small businesses as easy targets for hacking. Big companies allot funding for online protection; hence, adding difficulty in breaching their data or controlling over their system.
The consequences of an attack can cost much more than the cybersecurity investment. According to the Barracuda Networks study, victims of spear-phishing attacks cost them an average of US$S270,000 each — that’s roughly AU$396,000.
Don’t let your business fall into the hackers’ hands. There are ways for small businesses to catch up with their current technological lag in terms of cybersecurity.
A big step you should take is to become a business owner who sees the value of cybersecurity in the business. Be active in monitoring and identifying what should be protected and what security updates should be done from time to time.
If you’re not an expert, consult with other experts or take up cybersecurity education, along with your employees, to have more knowledge in today’s technology and how to be protected from malicious online activity. There are also programs that provide businesses with access to different kinds of options for protection, such as automatic password changes, monitoring activities, alerting employees of potential cyberattacks, and more.
On top of that, make sure to practise good password hygiene. Weak and easy-to-guess passwords, such as birthdays or other personal information, are easier to crack. Strengthen your and your employee’s passwords to increase protection of personal and business accounts.
Cybersecurity is an expensive investment. But, the benefits are higher than the costs because being protected from hackers prevents data breaching, theft, and other malicious acts that could harm your business operations and reputation.
If you’re starting a new business, make sure to allocate a budget for cybersecurity. You can also purchase a business equipped with cybersecurity measures from a listing posted on National Brokers Network. Our brokers can help you find specific features that you want in a business through our available listings.
Get started with your search for your dream business on our website. You can also contact us through the following:
Phone: 03 9226 9222
Fax: 03 9078 6315